The Israeli economic platform Globes, known for its coverage of economic developments in ‘Israel’, has highlighted a sharp decline in salaries, a collapse in living standards, and significant challenges in the tech and advanced industries sectors. This downturn is compounded by ongoing reductions in investment and persistent threats to Israel’s economic and critical infrastructure.

Full Al Masirah report

Wars may be good business for military manufacturers, but, in the case of Israel, it is bad news for the general population. Poverty has stricken the illegally occupied Palestinian lands, and the Israeli premier Netanyahu is taking down the population with it.
The Israeli poverty rate is among the highest in developed nations, second only to Costa Rica.

According to a recent report by the National Insurance Institute, nearly 2 million Israelis, 20% of the population, live below the poverty line.

Without Tel Aviv’s assistance program the poverty rate would have in all likelihood reached 31% instead of the current 20% of the population.

There was a 15.2% increase in pay last year. Young people under 29 have been particularly affected, with 47.2% living below the poverty line.

The situation is especially dire for families with children as 872,000 children, that is 9% of all children in Israel live in poverty.

The highest concentration of poverty can be found in al-Aqsa, where 48.3% of the families are classified as poor, followed by the northern and southern regions, with poverty rate of 22.5% and 22.6% respectively.

Intervention has reduced individual poverty by 33.5% and family poverty by 41%.

Israeli poverty reduction efforts still lag behind other OECD countries, highlighting the persistent nature of the economic inequality.

Israel is no stranger to a high poverty rate. It’s not surprising that the price increases have had an impact on Israel’s food security.

Prices rose in 2023 by 4% forcing those in the lower income brackets to cut other expenses, such as 9.7% who gave up on medical treatment, or 5% who did not have access to a hot meal at least once every other day.

Although Israel was already suffering economically prior to October 7, 2023. It is now caught in an economic crisis due to the multiple war scenarios after al-Aqsa Flood, facing an existential threat from a debt of around $336 billion, to a plummeting GDP. Falling from 6.5% in 2022 to around 2% in 2023 and now zero in 2024, Israel’s economy and society is falling into a spiral of collapse.

Al Masirah report

Things are heading rock bottom in the expansionist colonial settler occupation

Israel Hayom:

More than 82,000 Israeli residents immigrated abroad in 2024, while only 23,000 returned, an increase from the previous year.

Al Akhbar on Telegram Channel

Israel offers displaced settlers ‘financial compensation’ to return north despite lasting security concerns
Roughly 60,000 Israeli settlers have been displaced since the start of the war between Israel and Hezbollah in October 2023 – The Cradle Media report.